Weibo's total revenue in the first quarter was 2.85 billion yuan, with a net profit of 692 million yuan
On May 25th, Weibo released its financial report for the first quarter of 2023. According to the financial report, Weibo's total revenue in the first quarter was 413
On May 25th, Weibo released its financial report for the first quarter of 2023. According to the financial report, Weibo's total revenue in the first quarter was 413.8 million US dollars, equivalent to approximately 2.85 billion RMB. Excluding exchange rate factors, the total revenue decreased by 7% year-on-year. In the first quarter, Weibo achieved a net profit of $100.5 million, equivalent to approximately 692 million yuan, under the general accounting standards of the United States. A net loss of $67.5 million, equivalent to 427 million yuan, was recorded in the same period last year, and profits were restored year-on-year.
As of the end of the first quarter, the monthly active users on Weibo reached 593 million, a net increase of 11 million year-on-year, and the daily active users reached 255 million, a net increase of 3 million year-on-year. In the first quarter, the proportion of monthly active users on Weibo from mobile devices reached 95%.
Weibo's advertising and marketing revenue in the first quarter was $355.3 million, a year-on-year decrease of 17%, with an estimated $357.4 million; In addition, the non advertising revenue of Weibo in this quarter reached 58.5 million US dollars, equivalent to approximately 401 million RMB. Excluding exchange rate factors, it increased by 10% year-on-year.
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